Elevation Point Wealth Partners LLC Reduces Holdings in Houlihan Lokey, Inc. $HLI

Elevation Point Wealth Partners LLC cut its stake in Houlihan Lokey, Inc. (NYSE:HLI) by 53.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,802 shares of the financial services provider’s stock after selling 2,028 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Houlihan Lokey were worth $324,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Trust Co. of Toledo NA OH purchased a new stake in shares of Houlihan Lokey in the 2nd quarter valued at about $34,000. Brooklyn Investment Group acquired a new position in Houlihan Lokey during the first quarter worth approximately $33,000. Caitong International Asset Management Co. Ltd increased its position in Houlihan Lokey by 3,714.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider’s stock worth $43,000 after buying an additional 260 shares during the period. MAI Capital Management lifted its stake in Houlihan Lokey by 268.0% in the second quarter. MAI Capital Management now owns 368 shares of the financial services provider’s stock valued at $66,000 after buying an additional 268 shares during the last quarter. Finally, Eastern Bank acquired a new stake in shares of Houlihan Lokey in the first quarter valued at approximately $65,000. Institutional investors and hedge funds own 78.07% of the company’s stock.

Houlihan Lokey Stock Up 0.1%

NYSE HLI opened at $175.40 on Friday. The stock has a market capitalization of $12.29 billion, a P/E ratio of 29.53 and a beta of 0.88. Houlihan Lokey, Inc. has a 52-week low of $137.99 and a 52-week high of $211.78. The firm has a 50-day moving average price of $189.40 and a 200 day moving average price of $188.37.

Houlihan Lokey (NYSE:HLI) last released its earnings results on Thursday, October 30th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.15. The company had revenue of $659.45 million for the quarter, compared to analysts’ expectations of $639.08 million. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 EPS. On average, equities research analysts expect that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, December 1st. Houlihan Lokey’s dividend payout ratio is currently 38.71%.

Insider Buying and Selling at Houlihan Lokey

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 500 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $196.22, for a total value of $98,110.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Irwin Gold sold 6,811 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $202.75, for a total transaction of $1,380,930.25. The SEC filing for this sale provides additional information. Corporate insiders own 22.83% of the company’s stock.

Analyst Upgrades and Downgrades

HLI has been the subject of several research reports. Zacks Research downgraded shares of Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. BMO Capital Markets initiated coverage on shares of Houlihan Lokey in a research note on Friday, October 3rd. They issued an “outperform” rating and a $230.00 price objective on the stock. Wall Street Zen downgraded shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Weiss Ratings raised Houlihan Lokey from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Houlihan Lokey in a research note on Thursday, October 9th. They set a “hold” rating and a $210.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $212.43.

Houlihan Lokey Profile

Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.